Morning Market Briefing – Power Moves

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Morning Market Briefing – Power Moves

Morning Market Briefing

Morning Market Briefing – Power Moves

May 21, 2021

Have you seen our live shows? Join us for “The Trend” each market morning at 9:00AM EST, and “Beyond the Bell” at the close. See what’s trending in the markets and find out what our traders are watching each day! Check them out at the top of your member’s dashboard.

The SPY and the QQQ both continued their strong moves off of Wednesday’s lows to new weekly highs, with early morning price action looking like that move will continue into the open. Fridays after a week of erratic movement tend to be slow days traditionally, as traders take the time to process the week that was. But these last couple of months have been anything but traditional. We’ll look for breaks of yesterday’s highs to confirm the upward movement this morning. We also want to be cautious of an intraday reversal as we saw on Tuesday. As always: Plan Your Trade, Trade Your Plan.

$416.63 was the SPYs Thursday high, need a break and hold of that area to keep going.

Now above the 50 SMA, QQQ will set it’s sights on $330+

Watch List

Symbol Why We’re Watching
TSLA Could push over 8EMA / 200 SMA.
ZM Possible breakout above 50 SMA
NFLX Needs to hold $500 for push higher.
AMD Push above 21 EMA could push to $80+.
FB Watch move above $317 for possible push back to highs.

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Symbol Idea Direction
F Long
BMY Long
LULU Short
JPM Long
QCOM Short

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